VAT Return

Wondering whether you should register for VAT?

You’ll only need to register if your turnover reaches £85,000. Once you reach this threshold, you’ll need to:

  • Register for VAT
  • Charge VAT on goods or services you sell (unless exempt)
  • Pay VAT on applicable goods or services you buy
  • File a digital VAT return to HMRC each quarter

How does VAT work?

You’ll have to both charge and pay VAT, but ideally these should be equally balanced.

If one is more than the other, you can pay the difference or claim a refund if you’ve paid more than you’ve charged.

The most important thing you can do is to keep meticulous records. This ensures that you’re paying the right amount, but no more than you need to.


How much VAT will you need to charge?

This will entirely depend on what you’re selling. Some products/services are completely exempt, others have a reduced rate. Most other products or services will be subject to 20% VAT.

If you’re unsure about anything, the next best thing you can do is hire professional help from a dedicated accountant.

An accountant will give you peace of mind that all your VAT affairs are handled correctly. They’ll also work to ensure that you’re not paying more than you need to. You could potentially save more money than you think, with an accountant to guide you.


What about Making Tax Digital?

Making Tax Digital is the new digital way of filing tax every quarter. Any VAT-registered business needs to abide by these new rules. This might require some adjustments to your method of filing and paying tax returns.

How we can help you register for VAT?

We will give you full support with VAT so that it’s one less thing to worry about. We’ll help you properly register for VAT and submit regular, accurate returns online.

Once that’s taken care of, you can get back to doing what you do best, which is making money in the first place. Let one of our experts handle all the finer details.

By signing up with us, we will:

  • Check that all your bookkeeping records are correct
  • Help you register for VAT when you need to
  • Ensure you’re compliant with Making Tax Digital
  • Make sure you’re claiming for VAT you’ve incurred in order to reduce your bill

Looking for a First-Class Tax Adviser?